Mixed-Use Property with Open Floor
For Sale
Contact for pricing
Pending
7724 Chapel Hill Rd, Cary, NC 27513
Open layout with two restrooms supports a range of business uses.
Property Size1,760 SF
Days on Market165
Property Features for 7724 Chapel Hill Rd
General Information
Standard status
Pending
Size
1,760 SF
Class
C
Property subtype
Mixed Use, Office, Retail
Amenities
open floor plan
two restrooms
Building Details
Year Built
1998
Year Renovated
2019
Units
1
Listing Agency:
Vavilala Estates, LLC
Listed By:
Goverdhan Vavilala · License #FLBO
Source:
Crexi
Added: Mar 20
Changed: Aug 31
Last Checked: Aug 31 at 12:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Vavilala Estates, LLC
Investment Insights
Based on property information with market context.
This mixed-use property offers 1,760 square feet arranged in an open floor plan with two restrooms. The interior configuration provides a straightforward commercial layout for businesses requiring adaptable space. Constructed in 1998, the property is located at 7724 Chapel Hill Rd in Cary, North Carolina.
Downtown Cary is less than half a mile away, placing the property near the area’s central business district and surrounding commercial activity.
Downtown Cary is less than half a mile away, placing the property near the area’s central business district and surrounding commercial activity.
Key Highlights
- 1,760 square feet of mixed‑use commercial space
- Open floor plan supports adaptable interior use
- Two restrooms included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,955
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$619,100
$619.1K
Cap Rate 7%
$442,214
$442.2K
Cap Rate 9%
$343,944
$343.9K
Market Conditions
NOI Build-Up for 1,760 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$52.8K $30.00/SF
− Vacancy
−$11.5K −$6.55/SF
EGI
$41.3K $23.45/SF
− OpEx
−$10.3K −$5.86/SF
NOI
$31.0K $17.59/SF
Area
Cary, NC
Vacancy
21.83%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$619,100
Cap Rate 7%
$442,214
Cap Rate 9%
$343,944
Alternative Uses
Best Use
Office B
$442.2K
$386.9K – $515.9K
NOI $30,955 @ 7.0% cap · market cap 5.86%
Second Best
Mixed Use
$312.3K
$273.2K – $364.3K
NOI $21,859 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$492.5K
$430.9K – $574.5K
NOI $34,472 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
606
Businesses Nearby
Explore this area
Business Placement
Demographics for 27513, NC
46,526
Population
21,204
Households
2.2
Avg Household Size
39
Median Age
68%
College-Educated
97%
High-School Grad
16.4 sq mi
ZIP Area
2,837
Density / Sq Mi
$119,458
Median Household Income
$66,584
Median Earnings
$1,491
Median Rent
$468,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Open layout with two restrooms supports a range of business uses.
Where is this mixed-use property located?
The property is located at 7724 Chapel Hill Rd Cary, NC.
What is the asking price?
The asking price for this property is $528,000.
What are key features of this property?
This property features: 1,760 square feet of mixed‑use commercial space; Open floor plan supports adaptable interior use; Two restrooms included
